Navigation:  Credit Reporting  > Credit Reporting Screen > Credit Reporting & Loan Information tab > Current Balance

Entry: System, numeric

F/M: No

Mnemonic: BUPOBL

Screen: Loans > Credit Reporting > Credit Reporting & Loan Information tab

 

The Current Balance on the Credit Report and transmission reflects the entire loan amount required to pay off the loan, including late charges, interest, and miscellaneous fees, as of the monthend date. Each monthend when the Credit Reporting screen is updated, the system enters the payoff amount into the Current Balance field, and that is the amount reported to Credit Bureaus using the Credit Bureau Report and transmission file (FPSRP184). The Current Balance is displayed in the Base Segment of the report and transmission.